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《大行報告》瑞銀降中升(00881.HK)及永達汽車(03669.HK)評級及目標價 行業前景不佳
瑞銀發表報告,指看淡內地汽車經銷商行業,因為在庫存增加和激烈的價格競爭下,以及特斯拉(TSLA.US)和內地三大造車新勢力「蔚小理」正以超預期速度搶奪傳統高檔車的市場份額,預計高檔新車的利潤率下半年將下跌。 該行建議,投資者在目前的宏觀經濟環境下避免汽車經銷商行業,預計行業估值和盈利都將會下跌。該行將永達汽車(03669.HK)評級由「買入」下調至「中性」,將中升(00881.HK)評級由「買入」一舉降至「沽售」,並預計未來三個月市場將大幅削減對它們的盈利預測。雖然中升具強勁的執行力紀錄,但投資者或低估行業面臨的周期性和結構性的不利因素。 瑞銀降永達目標價由13元降至7元,中升目標價由84元削至36元。
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